Oil Edges to 2-Week High on Ukraine News
Oil prices edged up about 1% to a two-week high on Friday as the intensifying war in Ukraine this week boosted the market's geopolitical risk premium.Brent futures rose 66 cents, or 0.9%, to $74.89 a barrel by 11:39 a.m. EST (1639 GMT), while U.S. West Texas Intermediate crude CLc1 rose 77 cents…
Oil Rises 2 Percent
Oil rose nearly 2 percent on Tuesday as attention centered on geopolitical factors tightening supplies that are leading to falling exports from Venezuela and declining U.S. inventories.Despite concerns about weaker demand due to an economic slowdown, oil prices have risen more than 25 percent this year…
Oil Rises Above $57 on China-U.S. Trade Talks, OPEC Cuts
Oil rose to above $57 a barrel on Friday after China said it would hold trade talks with the United States and a survey showed China's services sector expanded in December, while signs of lower crude supply also lent support.The Organization of the Petroleum Exporting Countries cut crude output in December…
Oil Falls After OPEC Delays Output Decision
Oil fell in choppy trading on Thursday after OPEC ended a key meeting having made no decision on crude output, as it prepared to debate the matter with other exporters the next day.The Organisation of the Petroleum Exporting Countries (OPEC) met in Vienna to…
Oil Drops as Rising Global Supply Forces Price U-Turn
Oil neared three-month lows on Thursday, surrendering early gains as investors focused on global crude supply, which is increasing more quickly than many had expected.Chinese data earlier in the day that showed record oil imports offered some temporary respite…
Oil Rises as Investors Fret Over Iranian Supply Gaps
Oil edged higher on Thursday, driven by the prospect of a shortfall in global supply once U.S. sanctions against major crude exporter Iran come into force in just five weeks' time.U.S. President Donald Trump this week demanded that OPEC raise production to…
Oil Gains From Dollar Weakness
Oil rose on Thursday, encouraged by a weaker dollar and evidence of strong U.S. fuel demand, though demand prospects remain clouded by the turmoil engulfing emerging markets and an escalation in the U.S. trade dispute with China.Emerging market stocks, bonds…
Oil Steadies but Outlook for Demand Grows Gloomy
Oil rose as global markets steadied on Thursday, recovering some of the previous day's 2 percent slide, though a weakening outlook for crude demand kept prices in check.The oil market had felt the effects on Wednesday of a large build in U.S. inventories that added to concern over the outlook for fuel demand…
Oil Falls, OPEC Supply Worries
Oil benchmarks fell on Wednesday after an unexpected build in U.S. crude and gasoline inventories despite strong demand, and as traders weighed the possibility of an increase in OPEC crude output to cover any shortfalls in supply from Iran and Venezuela.U.S.
Oil Falls, Market Wary of OPEC Commitment
Brent, U.S. crude drop on expectations of higher OPEC output. Oil fell on Wednesday, under pressure from a potential increase in OPEC crude output to cool the market's recent rally and cover any shortfalls in supply from Iran and Venezuela. Brent crude futures were down 75 cents at $78.82 a barrel by 0940 GMT…
Oil Eases as Iran Exports Soar, U.S. Inventories Rise
U.S. could reimpose sanctions on Iran this month but surging U.S. supplies, stronger dollar cap market. Brent crude futures eased on Wednesday, surrendering early gains after evidence of further increases in U.S. shale supply and a rise in Iranian exports ahead of a possible renewal of U.S. sanctions on Tehran.
Oil Dips as Rising U.S. Yields Steer Bulls
U.S. rig count rises to 820, highest since March 2015; but strong demand, OPEC cuts still support prices overall. Oil prices were little changed at around $74 a barrel on Monday on rising U.S. borrowing costs and the prospect of further output rises after another increase in the weekly rig count…
Oil Hits Two-week Low After China Hits U.S. Goods With Tariffs
U.S. crude inventories also likely saw build for 2nd week. Oil fell to its lowest in two weeks on Wednesday after China said it would impose tariffs on a number of U.S. goods including agricultural products, raising the prospect of a growing trade war that could impact global growth.
Oil Retreats After Failing to Hit $70 a Barrel
Oil prices fell on Thursday as investors booked profits after this week's rally, but losses were limited by the continuing efforts of OPEC and its allies to curb supplies. Brent crude futures were down 66 cents at $68.81 a barrel by 1410 GMT, having retreated from a session peak of $69.70…
Oil Retreats After Hitting Six-Week Highs Near $70
Investors book profits after two-week surge in prices; Wednesday's gains biggest in one day since November. Oil prices surrendered early gains on Thursday as investors booked profits after this week's rally, but losses were limited by the ongoing efforts of OPEC and its allies to curb supplies.
Oil Rises as Korea Talks Boost Confidence
IEA sees strong global oil demand growth to 2023. Oil rose on Tuesday, paring earlier losses after South Korea said it would hold a summit with North Korea for the first time in more than a decade, which investors took as a cue to sell the U.S. dollar and buy risk-sensitive assets such as commodities.
Brent Crude Eases after Surprise Rise in U.S. Inventories
U.S. crude, gasoline inventories climb as traders take put options to sell crude. Brent oil prices eased on Wednesday, under pressure from a rise in U.S. crude and gasoline inventories although crude prices remained near three-year highs. Benchmark Brent futures dipped 8 cents to $69.88 a barrel at 0930 GMT…
Oil at Highest Level since June 2015
Iran unrest expected to keep prices firm; but U.S. expected to see its output pass 10 mln bpd. Oil prices rose on Wednesday to new two-and-a-half year highs as robust output in the United States and Russia balanced tensions from a sixth day of unrest in OPEC member Iran. U.S.
Oil Passes $65 on UK Pipeline Outage
North Sea's Forties pipeline shut after cracks found; Forties crude underpins the Brent benchmark. Oil rose above $65 a barrel for the first time since mid-2015 on Tuesday following a shutdown of the UK's biggest North Sea oil pipeline, which helps set the benchmark for global prices.
Oil Slips on OPEC Deal Uncertainty
Oil prices slipped on Wednesday as doubts set in about Russia's willingness to substantially extend a deal among some of the world's biggest exporters to curb output to help tackle global oversupply and support prices. Brent crude futures were down 17 cents on the day at $63.44 a barrel by 1350 GMT, while U.S.
